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1. Today's supply curve for gasoline could shift in response to a change in a. today's price of gasoline. b. the expected future price of gasoline. c. the number of buyers of gasoline. d. All of

1. Today's supply curve for gasoline could shift in response to a change in

a. today's price of gasoline.

b. the expected future price of gasoline.

c. the number of buyers of gasoline.

d. All of the above are correct.

 

2. Which of the following would not result from all countries specializing according to the principle of comparative advantage?

a. The size of the economic pie would increase.

b. Worldwide production of goods and services would increase.

c. The well-being of citizens in each country would be enhanced.

d. Each country's production possibilities frontier would shift inward.

Apr 19 2021 View more View Less

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